newtoseattle
Recycles dryer sheets
Hello
I have a MacBook and so the detailed social security calculator from the government site doesn't work for me.
Most of my social security contributions are in years I've made the max contribution level (I'm ignoring all the years at <$8000/yr income)
I have been guesstimating social security by #yrs contributing max* current max (i.e. will be 127,000$ for 2017) divided by 35 divided by 12
all this in order to get AIME and then using the multipliers from there (i.e. .9 for first bit, then .32 for next, etc)
So my question is - is the wage adjustment really that simple - i.e. is the max income from last year 118,000 really now $127,000?
Basically I'd been kind of hoping to get to the 50% mark (i.e. the second bend point) and had thought it'd basically be 17-18 years contribution the max.
But the high increase to $127,000 this year based on wage index (not inflation) makes me wonder if thats really true...
Hope my question makes sense to someone...
I have a MacBook and so the detailed social security calculator from the government site doesn't work for me.
Most of my social security contributions are in years I've made the max contribution level (I'm ignoring all the years at <$8000/yr income)
I have been guesstimating social security by #yrs contributing max* current max (i.e. will be 127,000$ for 2017) divided by 35 divided by 12
all this in order to get AIME and then using the multipliers from there (i.e. .9 for first bit, then .32 for next, etc)
So my question is - is the wage adjustment really that simple - i.e. is the max income from last year 118,000 really now $127,000?
Basically I'd been kind of hoping to get to the 50% mark (i.e. the second bend point) and had thought it'd basically be 17-18 years contribution the max.
But the high increase to $127,000 this year based on wage index (not inflation) makes me wonder if thats really true...
Hope my question makes sense to someone...